1. Economic Survey 2016 highlights: The government tabled the Economic Survey 2016 today in Parliament by FM Arun Jaitley amid shouting by opposition benches. It has been revealed that GDP growth rate in India is seen in range of 7 to 7.75 per cent in 2016-17 (it expects Indian economy to grow 7-7.5 percent in the fiscal year to March 2017).
2.Time is right for a review of medium-term fiscal framework.2015-16 fiscal deficit seen at 3.9 percent of GDP seems achievable.
3.Low inflation has taken hold, confidence in price stability has improved.CPI inflation seen around 4.5 to 5 percent in 2016-17.
4.Expect RBI to meet 5 percent inflation target by March 2017.
5.2016-17 current account deficit seen around 1-1.5 percent of GDP
6.Industrial growth is expecting 3.1% 2016.Last year it is 2.8%
7.Per Capita Income is going to reach Rupees 93,231 . Last year it's Rupees 86,879 .
8.Foreign reserves slightly increased compare to last year.
2.Time is right for a review of medium-term fiscal framework.2015-16 fiscal deficit seen at 3.9 percent of GDP seems achievable.
3.Low inflation has taken hold, confidence in price stability has improved.CPI inflation seen around 4.5 to 5 percent in 2016-17.
4.Expect RBI to meet 5 percent inflation target by March 2017.
5.2016-17 current account deficit seen around 1-1.5 percent of GDP
6.Industrial growth is expecting 3.1% 2016.Last year it is 2.8%
7.Per Capita Income is going to reach Rupees 93,231 . Last year it's Rupees 86,879 .
8.Foreign reserves slightly increased compare to last year.
Key points of the Economic Survey
- GDP projected at in range of 7-7.75% for FY 2016.
- FY 2016 fiscal deficit target of 3.9 per cent likely to be achieved.
- CPI inflation seen around 4.5 to 5 percent in 2016/17
- Foreign exchange reserves have increased to $349.6 bn (Jan-2016)
- RBI should be able to meet 5% inflation aim by March 2017.
- Current Account Deficit as a proportion of GDP likely to be in the low range of 1 to 1.5%.
- PSU Banks to Need Rs. 1.8 lakh crores capital by FY 2019.
- India likely to be fastest growing economy in 2016-17.
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